What are the rules for withdrawing the proceeds from a provident fund (PF) account within five years of opening it, particulary if I have already claimed 80C deduction in previous years?
—Name withheld on request
As per provisions of the Income-tax Act, 1961, the accumulated balance due and becoming payable to an employee participating in a recognized provident fund shall be excluded from the computation of his total income on the following conditions:
a. if he has rendered continuous service with his employer for a period of five years or more, or
Diese Geschichte stammt aus der May 08, 2023-Ausgabe von Mint Mumbai.
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Diese Geschichte stammt aus der May 08, 2023-Ausgabe von Mint Mumbai.
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